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95% of Cypriot companies had less than 10 employees

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95% of Cypriot companies had less than 10 employees

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In 2020 the number of companies amounted to 109,220 compared to 107,062 in 2019, recording an increase of 2.0%.

95% of Cypriot companies had less than 10 employees

From 2016 onwards, there is an annual increase in the number of companies (Table 1).

In 2020, 95.1% of companies had less than 10 employees (Table 2). The largest productive sector in number of companies is the sector of “Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles” and immediately followed by the sectors of “Professional, Scientific and Technical Activities” and “Construction”. The smallest productive sector is “Mines and Quarries” (Table 3).

Table 2

Size                (No. of Employees)

Number of Companies

Share (%)

0-9

103,836

95.1

10-49

4,550

4.2

50-249

714

0.6

2 50 +

120

0.1

Total

109,220

100

Table 3

Nace Rev.2

Economic activity

Number of Companies

A

Agriculture, Forestry and Fisheries

3,550

B

Mines and Quarries

47

C

Processing

5,011

D

Electricity, Gas, Steam and Air Conditioning

92

E

Water Supply, Sewage Treatment, Waste Management and Remediation Activities

224

F

Constructions

9,334

G

Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles

16,942

H

Transport and Storage

3,142

I

Accommodation Services and Catering Services Activities

5,990

J

Information and Communication

2,537

K

Financial and Insurance Activities

3,613

L

Real estate management

1,350

M

Professional, Scientific and Technical Activities

10,415

N

Administrative and Support Activities

3,933

O

Public Administration and Defense, Compulsory Social Security

511

P

Education

3,804

Q

Activities Related to Human Health and Social Welfare

5,384

R

Arts, Fun and Entertainment

2,376

S

Other Service Activities

6,068

T

Household Activities as Employers · Non-Differentiated Household Activities, Related to the Production of Goods and Services for Own Use

24,897

Total

109,220

* Data refer to areas controlled by the state.

Source: www.philenews.com

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